For this Individual Project, you will use the entity you selected for your Unit 3 discussion, along with the research you conducted for that assignment, to present a report totaling 600–800 words. The report will be on the overall effectiveness of that entity’s online presence and will have recommendations for improvement. Using this Unit 4 Individual Project Template, complete the following for this assignment: Research review: In 1–2 paragraphs, provide a summary of your findings on the importance of having an online and social media presence for ANY company, organization, or governmental agency. Use information from the 4 sources you chose for Unit 3, ensuring that there is at least one APA style in-text citation for each of those 4 sources in the Research Review section. You will be summarizing, synthesizing, and analyzing these sources to provide a background for your analysis and suggestions. This section focuses on why having an online presence is important for companies and organizations rather than on the entity you are analyzing in the following sections. Analysis: In 3–4 paragraphs, analyze your entity’s existing social media presence and existing Web site, addressing each of the following components: Provide an explanation of your entity’s target audience. Discuss the entity’s purpose(s) for using social media. Provide an overview of the various social media sites the entity currently uses. Discuss how often this company posts updates on these sites. Describe areas where the entity is effective in its approach to social media. Discuss the strengths of the entity’s Web site. Recommendations and conclusions: In 2–3 paragraphs, discuss specific identified areas where your entity could improve. Consider the following suggestions: Suggest the addition of more platforms to attract its target audience, offering specific guidance on which platform(s) should be added and why. Suggest how a specific platform should be used differently, including why its use needs to change. Suggest a different cadence of posts to the various platforms. For example, is the entity posting too rarely or too often? Include a specific breakdown of how often posts should be made and why. Offer suggestions for ways to gain more followers. Be specific on which strategies are more effective for which platforms. Offer suggestions for how to improve the entity’s Web site, and address the benefits of making these improvements. Finally, conclude your report by informing your audience of how taking your suggestions will benefit them in the long run, supporting these claims with outside sources. References page: Create a references page that cites all the references used in this report. Use APA formatting. You should have a minimum of 4 cited sources, at least 2 of which must have come from the CTU Library. For help with formatting your references page, check out the Introductory APA Writing Style Guide. Be sure to remove the instructions from the template prior to submission. Submit as an attachment. Tip: Use CTU’s Writing Center, found here or in the Learning Center’s area of the Virtual Campus, for additional resources and help with your writing. Please post this task to Submitted Assignments as a Word document. The following grading criteria will be used to assess your report:

For this Individual Project, you will use the entity you selected for your Unit 3 discussion, along with the research you conducted for that assignment, to present a report totaling 600–800 words. The report will be on the overall effectiveness of that entity’s online presence and will have recommendations for improvement.

Using this Unit 4 Individual Project Template, complete the following for this assignment:

Research review: In 1–2 paragraphs, provide a summary of your findings on the importance of having an online and social media presence for ANY company, organization, or governmental agency. Use information from the 4 sources you chose for Unit 3, ensuring that there is at least one APA style in-text citation for each of those 4 sources in the Research Review section. You will be summarizing, synthesizing, and analyzing these sources to provide a background for your analysis and suggestions. This section focuses on why having an online presence is important for companies and organizations rather than on the entity you are analyzing in the following sections. Analysis: In 3–4 paragraphs, analyze your entity’s existing social media presence and existing Web site, addressing each of the following components: Provide an explanation of your entity’s target audience. Discuss the entity’s purpose(s) for using social media. Provide an overview of the various social media sites the entity currently uses. Discuss how often this company posts updates on these sites. Describe areas where the entity is effective in its approach to social media. Discuss the strengths of the entity’s Web site. Recommendations and conclusions: In 2–3 paragraphs, discuss specific identified areas where your entity could improve. Consider the following suggestions: Suggest the addition of more platforms to attract its target audience, offering specific guidance on which platform(s) should be added and why. Suggest how a specific platform should be used differently, including why its use needs to change. Suggest a different cadence of posts to the various platforms. For example, is the entity posting too rarely or too often? Include a specific breakdown of how often posts should be made and why. Offer suggestions for ways to gain more followers. Be specific on which strategies are more effective for which platforms. Offer suggestions for how to improve the entity’s Web site, and address the benefits of making these improvements. Finally, conclude your report by informing your audience of how taking your suggestions will benefit them in the long run, supporting these claims with outside sources. References page: Create a references page that cites all the references used in this report. Use APA formatting. You should have a minimum of 4 cited sources, at least 2 of which must have come from the CTU Library. For help with formatting your references page, check out the Introductory APA Writing Style Guide. Be sure to remove the instructions from the template prior to submission. Submit as an attachment.

Tip: Use CTU’s Writing Center, found here or in the Learning Center’s area of the Virtual Campus, for additional resources and help with your writing.

Please post this task to Submitted Assignments as a Word document.

The following grading criteria will be used to assess your report:

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Primary Discussion Response is due by Friday (11:59:59pm Central). Assignment: Research the role and purposes of social media in the professional world and investigate the media presence of an entity (company, political campaign, organization, or governmental agency related to your field of study). Primary Discussion Response For this assignment, you will conduct research online and through the CTU Library databases on the importance and benefits of having an online presence as a company, organization, or governmental agency. This research should focus on the general benefits of an online presence and should not be specific to the individual entity. For the second part of the assignment, you will select 1 entity (company, organization, or governmental agency related to your field of study) and perform an analysis of its use of its Web site and social media pages, searching for the strengths and weakness, advantages and liabilities, and general effectiveness of its online presence. Fill out this Unit 3 Discussion Board Template following these steps: Find 4 credible sources that discuss the importance and benefits of having an online presence and using social media as a company, organization, or governmental agency. At least 2 of those sources must come from the library. Use citation generators or build a correct APA citation for each of the sources Under each citation, provide a 2-3-sentence summary of the article’s main ideas. Find and state the name of an entity (company, organization, or governmental agency related to your field of study), and in a couple sentences, explain your interest in the entity. Provide a hyperlink to 3 online sites used by the entity, including its main Web site. Sites you may investigate could include Twitter, Facebook, Instagram, Pinterest, Snapchat, YouTube, LinkedIn, podcasts, interactive chats, or any other social media platform. Present a 3-5-sentence summary of the overall effectiveness of the entity’s online presence, the quality of the written communication used across its various platforms, and a brief identification of areas where it could improve its online and social media strategy. The absence of a presence on a social media site may also warrant discussion. Do not attach the template. Instead, copy and paste your filled-out template directly into the Discussion Board. Peer Responses Respond to 2 classmates. In your responses to your classmates, remember to be constructive and polite. Use the following questions to assist you with your responses: What about their summaries seemed useful or interesting? Which quotations or pieces of information seemed the most persuasive? Which analysis seems the most effective to you? Why?

Primary Discussion Response is due by Friday (11:59:59pm Central).

Assignment: Research the role and purposes of social media in the professional world and investigate the media presence of an entity (company, political campaign, organization, or governmental agency related to your field of study).

Primary Discussion Response

For this assignment, you will conduct research online and through the CTU Library databases on the importance and benefits of having an online presence as a company, organization, or governmental agency. This research should focus on the general benefits of an online presence and should not be specific to the individual entity.

For the second part of the assignment, you will select 1 entity (company, organization, or governmental agency related to your field of study) and perform an analysis of its use of its Web site and social media pages, searching for the strengths and weakness, advantages and liabilities, and general effectiveness of its online presence.

Fill out this Unit 3 Discussion Board Template following these steps:

Find 4 credible sources that discuss the importance and benefits of having an online presence and using social media as a company, organization, or governmental agency. At least 2 of those sources must come from the library. Use citation generators or build a correct APA citation for each of the sources Under each citation, provide a 2-3-sentence summary of the article’s main ideas. Find and state the name of an entity (company, organization, or governmental agency related to your field of study), and in a couple sentences, explain your interest in the entity. Provide a hyperlink to 3 online sites used by the entity, including its main Web site. Sites you may investigate could include Twitter, Facebook, Instagram, Pinterest, Snapchat, YouTube, LinkedIn, podcasts, interactive chats, or any other social media platform. Present a 3-5-sentence summary of the overall effectiveness of the entity’s online presence, the quality of the written communication used across its various platforms, and a brief identification of areas where it could improve its online and social media strategy. The absence of a presence on a social media site may also warrant discussion. Do not attach the template. Instead, copy and paste your filled-out template directly into the Discussion Board. Peer Responses

Respond to 2 classmates. In your responses to your classmates, remember to be constructive and polite. Use the following questions to assist you with your responses:

What about their summaries seemed useful or interesting? Which quotations or pieces of information seemed the most persuasive? Which analysis seems the most effective to you? Why?

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After reading and reviewing the material in the Reading & Study folder, reflect upon what you have learned and include pertinent aspects of the material in your response to the following: What are 3 themes that stand out in helping you understand Arab Muslims better? Include 1 theme out of these that helps you better understand Islamic extremist terrorism. What is 1 question you would like to ask Rheam that Dr. Garzon did not? Note: Terrorism is not being excused in asking you to understand something about it; indeed, you should have a balanced perspective. My text is Hays, D. G., & Erford, B. T. (2018). Developing multicultural counseling competence: A systems approach (3rd ed.) and McGoldrick, M., Giordano, J., & Garcia-Preto, N. (Eds.) (2005). Ethnicity and family therapy (3rd ed.). Here is an example of what someone else wrote but please do not write anything they wrote ………….. To understand Arab Muslims better it is important to have a better understanding of the culture versus religion. One area that becomes blurred between culture and religion is honor killings. Garzon (2010a) informs us that although many people may practice Islam religion, honor killings are more of a cultural practice which is also found in some Hindu and Sikh cultures. Unfortunately, sometimes the religious community will support the honor killings and the government does little to punish people for these outrageous crimes (Garzon, 2010a). Islam religion was founded by Muhammad in the 7th century. The Islamic law was originally written to help people lead lives of peace and taught respect for others. The very word Islam means peace which is contradictory of promoting violence (Hays & Erford, 2018). Regrettably, culture and society have interfered with the religious teaching which has led to violent acts carried out on Women especially. Honor killings can occur when a woman does not adhere to the social culture norms, particularly concerning sex and dating, by adopting the western culture ways (Garzon, 2010a). A second theme in understanding Arab Muslims better is to acknowledge the stereotypes. First of all, not all Middle Eastern people are Arabs and around 80% of Middle Eastern Arabs are Muslim or adhere to the Islamic religion. Furthermore, the majority of Muslims do not even live in the Middle East, therefore, labeling all Arabs as Muslim is incorrect (Hays & Erford, 2018). Another stereotype is that all women are denied the right to education and are not allowed to choose what they wear or who they marry. Dr. Garzon (2010a) notes in his presentation that many women do have their rights, however, there are extreme cases where women are stripped from their rights and even suffer great domestic violence which can include an honor killing. According to the Islamic faith, men and women are considered equal in God’s eyes, however, it is known that local customs do sometimes play a role in suppressing women and limiting their rights in society (Hays & Erford, 2018). A third theme which can help understand Islamic extremist terrorism is self-education and taking the perspective that not all Muslims or Middle Eastern people are in fact terrorists. Discrimination occurs when people automatically assume and stereotype all people of Middle Eastern decent as vicious harmful people. According to Garzon (2010a), the 9/11 terrorist attacks played a role in the heightened stereotyping and discrimination of Muslims, particularly in America. One thing to keep in mind is that in every culture or religion there may be several separate groups or factions operating similarly on a few aspects and extreme opposites in other areas. Awareness of these different religious variations between groups and within groups, can help to better understand why extreme terrorist groups exist (Garzon, 2010a). One question that I would like to ask Rheam that Dr. Garzon (2010b) did not is about the stereotype of Muslim dress, especial women. I noticed that Rheam was dressed more like the American women than what is depicted on television and in the movies. Many people automatically assume that all Middle Eastern women are required to wear a head covering and long dark garments. Hays & Erford (2018) reveal that many Arab women are allowed to dress as they wish, and many choose to dress modern, especially those living in America. I would ask Rheam whether she grew up wearing modern clothing or did she make the choice to change as an adult? I also wonder if the women in Jordan get treated negatively based on their choice of modern or traditional clothing? I believe it is important to try to understand another culture by exploring for yourself and engaging with people of that culture before making assumptions and possibly fall into the cycle of stereotyping and discrimination. As Christians, we need to remember that Jesus died for everyone and that God’s love and grace extend beyond cultural and religious boundaries.

After reading and reviewing the material in the Reading & Study folder, reflect upon what you have learned and include pertinent aspects of the material in your response to the following:

What are 3 themes that stand out in helping you understand Arab Muslims better? Include 1 theme out of these that helps you better understand Islamic extremist terrorism. What is 1 question you would like to ask Rheam that Dr. Garzon did not?

Note: Terrorism is not being excused in asking you to understand something about it; indeed, you should have a balanced perspective.

My text is Hays, D. G., & Erford, B. T. (2018). Developing multicultural counseling competence: A systems approach (3rd ed.) and McGoldrick, M., Giordano, J., & Garcia-Preto, N. (Eds.) (2005). Ethnicity and family therapy (3rd ed.).

Here is an example of what someone else wrote but please do not write anything they wrote …………..

To understand Arab Muslims better it is important to have a better understanding of the culture versus religion. One area that becomes blurred between culture and religion is honor killings. Garzon (2010a) informs us that although many people may practice Islam religion, honor killings are more of a cultural practice which is also found in some Hindu and Sikh cultures. Unfortunately, sometimes the religious community will support the honor killings and the government does little to punish people for these outrageous crimes (Garzon, 2010a). Islam religion was founded by Muhammad in the 7th century. The Islamic law was originally written to help people lead lives of peace and taught respect for others. The very word Islam means peace which is contradictory of promoting violence (Hays & Erford, 2018). Regrettably, culture and society have interfered with the religious teaching which has led to violent acts carried out on Women especially. Honor killings can occur when a woman does not adhere to the social culture norms, particularly concerning sex and dating, by adopting the western culture ways (Garzon, 2010a).

A second theme in understanding Arab Muslims better is to acknowledge the stereotypes. First of all, not all Middle Eastern people are Arabs and around 80% of Middle Eastern Arabs are Muslim or adhere to the Islamic religion. Furthermore, the majority of Muslims do not even live in the Middle East, therefore, labeling all Arabs as Muslim is incorrect (Hays & Erford, 2018). Another stereotype is that all women are denied the right to education and are not allowed to choose what they wear or who they marry. Dr. Garzon (2010a) notes in his presentation that many women do have their rights, however, there are extreme cases where women are stripped from their rights and even suffer great domestic violence which can include an honor killing. According to the Islamic faith, men and women are considered equal in God’s eyes, however, it is known that local customs do sometimes play a role in suppressing women and limiting their rights in society (Hays & Erford, 2018).

A third theme which can help understand Islamic extremist terrorism is self-education and taking the perspective that not all Muslims or Middle Eastern people are in fact terrorists. Discrimination occurs when people automatically assume and stereotype all people of Middle Eastern decent as vicious harmful people. According to Garzon (2010a), the 9/11 terrorist attacks played a role in the heightened stereotyping and discrimination of Muslims, particularly in America. One thing to keep in mind is that in every culture or religion there may be several separate groups or factions operating similarly on a few aspects and extreme opposites in other areas. Awareness of these different religious variations between groups and within groups, can help to better understand why extreme terrorist groups exist (Garzon, 2010a).

One question that I would like to ask Rheam that Dr. Garzon (2010b) did not is about the stereotype of Muslim dress, especial women. I noticed that Rheam was dressed more like the American women than what is depicted on television and in the movies. Many people automatically assume that all Middle Eastern women are required to wear a head covering and long dark garments. Hays & Erford (2018) reveal that many Arab women are allowed to dress as they wish, and many choose to dress modern, especially those living in America. I would ask Rheam whether she grew up wearing modern clothing or did she make the choice to change as an adult? I also wonder if the women in Jordan get treated negatively based on their choice of modern or traditional clothing? I believe it is important to try to understand another culture by exploring for yourself and engaging with people of that culture before making assumptions and possibly fall into the cycle of stereotyping and discrimination. As Christians, we need to remember that Jesus died for everyone and that God’s love and grace extend beyond cultural and religious boundaries.

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The online lectures and McMinn suggested some “cautions” or possible negative impacts when using prayer and Scripture in counseling. While suggesting these cautions in Christian counseling may appear superfluous, consider the most important therapeutic uses of Scripture and prayer in counseling by indicating how you would address treatment in the case below. Be aware that the case is very similar to an actual case encountered by one of our professors in his private practice. Make sure to adequately integrate class materials as you thoughtfully consider your approach. Case Study: Mary is a 28-year-old young woman. She was referred for counseling as part of her discharge plan from a local psychiatric facility to which she was admitted as a result of a non-fatal suicide attempt. She was diagnosed with major depression. There was also suspicion that she might have Dissociative Identity Disorder (DID). Mary’s father sexually molested her throughout her childhood. He was a pastor during the daytime and a member of the occult at night. While raping Mary, her father would often quote from the Bible; for example, he would use the 5th Commandment and tell her to: “Honor your father and mother” (Exodus 20:12). At one point, Mary became pregnant by her father who then made her sacrifice her child on an altar during a satanic ritual. Mary was forced to watch this sacrifice. Her father is currently serving a life sentence in prison. Mary grew up in the church. She reads her Bible regularly. However, she questions why God would allow her father to do what he did to her. During counseling, she told the therapist that she was still a believer, but that there was a great distance between her and God. Please include some text references from Hawkins, R., & Clinton, T. (2015). The new Christian counselor: A fresh biblical & transformational approach and McMinn, M. R. (2011). Psychology, theology, and spirituality in Christian counseling (Revised ed.). Carol Stream, IL: Tyndale House

The online lectures and McMinn suggested some “cautions” or possible negative impacts when using prayer and Scripture in counseling. While suggesting these cautions in Christian counseling may appear superfluous, consider the most important therapeutic uses of Scripture and prayer in counseling by indicating how you would address treatment in the case below. Be aware that the case is very similar to an actual case encountered by one of our professors in his private practice. Make sure to adequately integrate class materials as you thoughtfully consider your approach.

Case Study:

Mary is a 28-year-old young woman. She was referred for counseling as part of her discharge plan from a local psychiatric facility to which she was admitted as a result of a non-fatal suicide attempt. She was diagnosed with major depression. There was also suspicion that she might have Dissociative Identity Disorder (DID). Mary’s father sexually molested her throughout her childhood. He was a pastor during the daytime and a member of the occult at night. While raping Mary, her father would often quote from the Bible; for example, he would use the 5th Commandment and tell her to: “Honor your father and mother” (Exodus 20:12). At one point, Mary became pregnant by her father who then made her sacrifice her child on an altar during a satanic ritual. Mary was forced to watch this sacrifice. Her father is currently serving a life sentence in prison. Mary grew up in the church. She reads her Bible regularly. However, she questions why God would allow her father to do what he did to her. During counseling, she told the therapist that she was still a believer, but that there was a great distance between her and God.

Please include some text references from Hawkins, R., & Clinton, T. (2015). The new Christian counselor: A fresh biblical & transformational approach and McMinn, M. R. (2011). Psychology, theology, and spirituality in Christian counseling (Revised ed.). Carol Stream, IL: Tyndale House

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This is an individual, written assessment, to be completed in report format. You are required to write around 3,000 (excluding title page, preliminaries, tables, figures, reference list and appendices). The report requires in-text referencing and a full reference list in APA style. The purpose of this assessment is to present the final report of the Professional Project you proposed in Assignment 1.This report should build upon your assessment 1 and it should address the campus tutor. In order to successfully complete Assessment 2, you are required to carry out the investigation you have proposed in Assessment 1 and produce a professional research report that shows how you have followed through from finding a research question to answering that question and developing recommendations that out of the answer. Project title; Background and definition of the issue/problem, including a justification why the issue/problem is crucially relevant to your profession; Your project’s aim and objectives/research questions; A more detailed critical and well-structured literature review; A detailed discussion of how you carried out your project (commensurate with a ‘Methodology’ chapter); Findings from your secondary information analysis; Discussion of findings in light of previously reviewed literature; Conclusion – this may address recommendations for (soon-to-be) professionals, possible areas of further research, and limitations of your project. Since this assessment is written in report format, it needs to be presented in professional layout, including: title page, executive summary, table of contents, and full reference list (at least 20 high-quality academic, peer-reviewed journal articles, properly referenced). Figures, tables and other appendices are optional and should only be used if required.

This is an individual, written assessment, to be completed in report format. You are required to write around 3,000 (excluding title page, preliminaries, tables, figures, reference list and appendices). The report requires in-text referencing and a full reference list in APA style.

The purpose of this assessment is to present the final report of the Professional Project you proposed in Assignment 1.This report should build upon your assessment 1 and it should address the campus tutor.

In order to successfully complete Assessment 2, you are required to carry out the investigation you have proposed in Assessment 1 and produce a professional research report that shows how you have followed through from finding a research question to answering that question and developing recommendations that out of the answer.

  • Project title;
  • Background and definition of the issue/problem, including a justification why the issue/problem is crucially relevant to your profession;
  • Your project’s aim and objectives/research questions;
  • A more detailed critical and well-structured literature review;
  • A detailed discussion of how you carried out your project (commensurate with a ‘Methodology’ chapter);
  • Findings from your secondary information analysis;
  • Discussion of findings in light of previously reviewed literature;
  • Conclusion – this may address recommendations for (soon-to-be) professionals, possible areas of further research, and limitations of your project.

Since this assessment is written in report format, it needs to be presented in professional layout, including: title page, executive summary, table of contents, and full reference list (at least 20 high-quality academic, peer-reviewed journal articles, properly referenced). Figures, tables and other appendices are optional and should only be used if required.

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Read the required journal articles by Schumacher (2012) and Palley (2008) regarding the theory of comparative advantage. In a critical essay, compare and contrast Smith’s original theory as indicated in the Schumacher (2012) article. What, in contrast, is Palley’s (2008) observation regarding the modern view of comparative advantage? Differentiate these views and support your findings with additional academic references. Readings: Palley, T. I. (2008). Institutionalism and new trade theory: Rethinking comparative advantage and trade policy. Journal of Economic Issues (Association for Evolutionary Economics), 42 (1), 195-208. Schumacher, R. (2012). Adam Smith’s theory of absolute advantage and the use of doxography in the history of economics. Erasmus Journal for Philosophy and Economics, 5(2), 5480

Read the required journal articles by Schumacher (2012) and Palley (2008) regarding the theory of comparative advantage. In a critical essay, compare and contrast Smith’s original theory as indicated in the Schumacher (2012) article. What, in contrast, is Palley’s (2008) observation regarding the modern view of comparative advantage? Differentiate these views and support your findings with additional academic references.

Readings:

Palley, T. I. (2008). Institutionalism and new trade theory: Rethinking comparative advantage and trade policy. Journal of Economic Issues (Association for Evolutionary Economics), 42 (1), 195-208.

  • Schumacher, R. (2012). Adam Smith’s theory of absolute advantage and the use of doxography in the history of economics. Erasmus Journal for Philosophy and Economics, 5(2), 5480

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FIN30014 Financial Risk Management Sem 2, 2017 1 FIN30014 Financial Risk Management Assignment – Semester 2, 2017 Assessment Mark: 20% DUE: on or before, 5pm Thursday 12th October, 2017 Background Global Fund Managers Ltd (GFML) is an investment management company. GFML is able to enter into derivatives contracts to hedge investments or to add value to positions. Funds under management as at 19th August 2017 include the following: Investment Type Amount Portfolio Beta Representative Index / Security Australian Shares (equities) A$100m 1.15 S&P ASX 200 US Shares (equities) US$55m 1.0 S&P 500 Short term interest securities (ave. maturity 90 days) A$20m 0 Bank Accepted Bills Long term fixed interest securities (ave. maturities 5 years in both countries) A$40m US$30m 0 Relevant bond indices Section I Required: Assume that you are a recently appointed hedge strategist with GFML and that you have been requested to prepare a report for presentation to GFML’s Investment Strategy Committee at its next meeting. You have been specifically requested to address the following issues: (a) To identify and list the specific financial risk exposures faced by GFML with respect to the asset categories listed in the above schedule (please limit the financial risks to what is taught in this unit). Bear in mind that GFML is an Australian based fund and that most of its investors are Australian residents. In this section you MUST discuss the outlook (forecast) for the each underlying variable and the related risk exposure. You need to provide adequate justification for your responses. (b) To make firm recommendations on whether or to hedge all, part or none of the exposures identified in part (a) above. You MUST provide some explanation for each of your recommendations. (You are not required to specify the type of derivative to be used to hedge in response to this question). (c) To make recommendations on which derivative instruments (for example, options, futures, etc) to use to implement the hedges that you have FIN30014 Financial Risk Management Sem 2, 2017 2 recommended in part (b) above. Once again, you MUST explain your recommendations. You are NOT required to propose details of how to implement your hedge recommendations in this part. Section II (d) Irrespective of your recommendations in parts b and c above, assume that you need to hedge 50% Australian and US equities exposures. Provide a schedule that shows the following: a. the risk b. the exposures to be hedged, c. which derivatives are to be used, d. the number of derivative contracts for each hedge, e. the contract months, and f. the prices at the time of making the recommendation. (Note: in responding to part (d) you only have to implement the hedge – you do not need to calculate any hypothetical future outcome). In this section you MUST show all calculations and include your responses in a table format as presented below. Please include calculations of the number of contracts in the appropriate cell Risk Exposure to be hedged Proportion of the exposure to be hedged Derivatives i.e. Futures/or Options etc. No. of Contracts Contract months Long/short/ Put/Call Strike Prices, premiums/Futures prices etc. FIN30014 Financial Risk Management Sem 2, 2017 3 (e) Independently of your responses to part (d), propose TWO option “spread or combination strategies” that involve more than one option contract for the Australian equities portfolio. GFML’s management has expressed a desire to retain some of the upside benefits that hedging with options can permit but without paying a lot of money in option premiums. That is, your recommended strategies should provide a “reasonably effective” hedge but keep the option premium payment limited to a “reasonable amount” (it does not have to be zero!). As the strategist, it is up to you what you consider “reasonable” for this purpose. You must also describe the benefits and possible shortcomings of your proposed option strategies. You must use actual option data to illustrate your option strategies and to hypothetically demonstrate their benefits and shortcomings. For illustrative purposes, assume that the Australian ASX200 at the date of expiry of the option contracts was (a) approximately 10% lower than the level at the time you implemented the strategy, and (b) approximately 5% higher. (5 + 4 + 4 + 3 + 4 = 20 marks) Notes 1. You are expected to use actual data for your recommended hedging strategies for requirement (d). Futures and option prices for US contracts can be found at: http://www.cmegroup.com for Australian futures and options at www.asx.com.au 2. The price data you use in your assignment will depend on the prices on the date that you access the data. That is, assignments submitted by different students will most likely have different prices. 3. It is your task to research the necessary futures and options contracts and the contract specifications in order to implement your proposed hedge strategies. Assistance will only be provided if it is clear that you have made a substantive research effort. 4. See marking rubric on page 5. 5. Answers to each part should be strictly separated. Answers to different parts should NOT be combined under any circumstance. 6. There are no definitive answers for this assignment. Your submission will be evaluated based on the clarity of your report and the quality of your arguments as responses to the requirements. 7. The assignment is to be done in pairs. You cannot submit an individual assignment without the consent of your tutor. If you dso, you will be penalised. 8. To avoid the penalties associated with a late submission you should commence thinking about the issues and researching for this assignment as soon as possible Submission Requirements 1. You MUST submit the assignment via turnitin. Check the draft in the “draft submission” link before doing the final submission. 2. No hardcopy is required. FIN30014 Financial Risk Management Sem 2, 2017 4 3. An assignment cover sheet must be attached to your submission (see blackboard for assignment cover sheet). 4. Your submission is to take the form of a business report. It should be concise, spell-checked for obvious errors, professional and be clearly expressed. The assignment should include the following sections: Executive Summary, Introduction (brief), body (where you will answer parts to the assignment), conclusion (brief), References, Appendices (optional) 5. The assignment should be a total of 2500 words, excluding the executive summary, references and appendices. 6. You must do this assignment in a pair (groups of 3 will not be permitted under ANY circumstance). 7. E-mailed assignments will not be accepted, the assignment must be submitted via turnitin. 8. Make sure that you allow yourself adequate time to complete this report because these guidelines will be strictly enforced and without exception. 9. Conduct research as widely as possible (up to 8 -12 sources). You MUST use sources that are considered academically reputable. 10. If you have any issues with your assignment partner please inform your tutor 3 weeks before the assignment is due. Plagiarism – Please read the notes on plagiarism in the Unit Outline FIN30014 Financial Risk Management Sem 2, 2017 5 FIN30014 Marking Rubric: Assignment (Pairs) Group Members: 1. 2. CRITERIA Unacceptable Acceptable Exemplary Mark 1. Introduce the topic and provide background. 2 marks Introduction unclear and little background information. 0 Sound introduction and key background details provided. 1 Coherent introduction and thorough background information. 2 2. Relevant issues are identified, analysed and supported with consistent arguments and data/evidence. 12 marks Key issues not identified or identified inappropriately. Arguments are poorly organised / difficult to follow. No or incorrect supporting evidence. 0-5 Appropriately identifies and discusses key issues. Arguments are consistent, well organised and supported with data/evidence. Generally logical flow and easy to follow. 6-9 Extensively identifies and discusses all relevant issues. Arguments are presented in a superior manner, well integrated and thoroughly supported with up-to-date evidence. 10-12 3. Structure and presentation consistent through whole report. 2 marks Poorly organised. Few headings. No table of contents or executive summary. Weak flow. Little attention to grammar, spelling and expression. 0 Appropriate structure and well organised analysis. Table of contents and executive summary provided Appropriate use of expression and minimal spelling errors. Good editing. 1 Professional structure, logical analysis. Executive summary accurate and concise. Superior presentation of table of contents, tables, figures, and appendices. Professionally edited. 2 4. Evaluate alternatives, draw conclusions/ make recommendations. 2 marks Weak/inconsistent connections between analysis and conclusions. Introduces new arguments inappropriately. 0 Logical/consistent connections between analysis and conclusions. 1 Superior conclusions drawn using all relevant analysis. Conclusions are consistent, realistic and professional. 2 5. Effective literature search and referencing. 2 marks Weak literature research. Few articles cited. Sources lack authority or are not current. Inconsistent or incorrect use of Harvard referencing. 0 Evidence of depth and breadth of relevant, authoritative and current research (at least 8 sources, at least 2 types of literature). Consistent use of Harvard referencing. 1 Extensive use of academically sound research sources (at least 12 sources, at least 3 types of literature) that is current and reliable. Correct Harvard referencing for all in text citations and reference list. 2 Marking: 0 – 9: Unacceptable; Does not meet expectation 10 – 15: Acceptable; Meets expectation 16– 20: Exemplary; Exceeds expectations TOTAL MARK: __________/20______

FIN30014 Financial Risk Management Sem 2, 2017
1
FIN30014 Financial Risk Management
Assignment – Semester 2, 2017
Assessment Mark: 20%
DUE: on or before, 5pm Thursday 12th October, 2017
Background
Global Fund Managers Ltd (GFML) is an investment management company. GFML is able to enter into derivatives contracts to hedge investments or to add value to positions. Funds under management as at 19th August 2017 include the following:
Investment Type
Amount
Portfolio
Beta
Representative
Index / Security
Australian Shares (equities)
A$100m
1.15
S&P ASX 200
US Shares (equities)
US$55m
1.0
S&P 500
Short term interest securities (ave. maturity 90 days)
A$20m
0
Bank Accepted Bills
Long term fixed interest securities (ave. maturities 5 years in both countries)
A$40m
US$30m
0
Relevant bond indices
Section I
Required:
Assume that you are a recently appointed hedge strategist with GFML and that you have been requested to prepare a report for presentation to GFML’s Investment Strategy Committee at its next meeting. You have been specifically requested to address the following issues:
(a) To identify and list the specific financial risk exposures faced by GFML with respect to the asset categories listed in the above schedule (please limit the financial risks to what is taught in this unit). Bear in mind that GFML is an Australian based fund and that most of its investors are Australian residents. In this section you MUST discuss the outlook (forecast) for the each underlying variable and the related risk exposure. You need to provide adequate justification for your responses.
(b) To make firm recommendations on whether or to hedge all, part or none of the exposures identified in part (a) above. You MUST provide some explanation for each of your recommendations. (You are not required to specify the type of derivative to be used to hedge in response to this question).
(c) To make recommendations on which derivative instruments (for example, options, futures, etc) to use to implement the hedges that you have
FIN30014 Financial Risk Management Sem 2, 2017
2
recommended in part (b) above. Once again, you MUST explain your recommendations. You are NOT required to propose details of how to implement your hedge recommendations in this part.
Section II
(d) Irrespective of your recommendations in parts b and c above, assume that you need to hedge 50% Australian and US equities exposures. Provide a schedule that shows the following:
a. the risk
b. the exposures to be hedged,
c. which derivatives are to be used,
d. the number of derivative contracts for each hedge,
e. the contract months, and
f. the prices at the time of making the recommendation.
(Note: in responding to part (d) you only have to implement the hedge – you do not need to calculate any hypothetical future outcome). In this section you MUST show all calculations and include your responses in a table format as presented below.
Please include calculations of the number of contracts in the appropriate cell
Risk
Exposure to be hedged
Proportion of the exposure to be hedged
Derivatives i.e. Futures/or Options etc.
No. of Contracts
Contract months
Long/short/
Put/Call
Strike Prices, premiums/Futures prices etc.
FIN30014 Financial Risk Management Sem 2, 2017
3
(e) Independently of your responses to part (d), propose TWO option “spread or combination strategies” that involve more than one option contract for the Australian equities portfolio. GFML’s management has expressed a desire to retain some of the upside benefits that hedging with options can permit but without paying a lot of money in option premiums. That is, your recommended strategies should provide a “reasonably effective” hedge but keep the option premium payment limited to a “reasonable amount” (it does not have to be zero!). As the strategist, it is up to you what you consider “reasonable” for this purpose. You must also describe the benefits and possible shortcomings of your proposed option strategies. You must use actual option data to illustrate your option strategies and to hypothetically demonstrate their benefits and shortcomings. For illustrative purposes, assume that the Australian ASX200 at the date of expiry of the option contracts was (a) approximately 10% lower than the level at the time you implemented the strategy, and (b) approximately 5% higher.
(5 + 4 + 4 + 3 + 4 = 20 marks)
Notes
1. You are expected to use actual data for your recommended hedging strategies for requirement (d). Futures and option prices for US contracts can be found at: http://www.cmegroup.com for Australian futures and options at www.asx.com.au
2. The price data you use in your assignment will depend on the prices on the date that you access the data. That is, assignments submitted by different students will most likely have different prices.
3. It is your task to research the necessary futures and options contracts and the contract specifications in order to implement your proposed hedge strategies. Assistance will only be provided if it is clear that you have made a substantive research effort.
4. See marking rubric on page 5.
5. Answers to each part should be strictly separated. Answers to different parts should NOT be combined under any circumstance.
6. There are no definitive answers for this assignment. Your submission will be evaluated based on the clarity of your report and the quality of your arguments as responses to the requirements.
7. The assignment is to be done in pairs. You cannot submit an individual assignment without the consent of your tutor. If you dso, you will be penalised.
8. To avoid the penalties associated with a late submission you should commence thinking about the issues and researching for this assignment as soon as possible
Submission Requirements
1. You MUST submit the assignment via turnitin. Check the draft in the “draft submission” link before doing the final submission.
2. No hardcopy is required.
FIN30014 Financial Risk Management Sem 2, 2017
4
3. An assignment cover sheet must be attached to your submission (see blackboard for assignment cover sheet).
4. Your submission is to take the form of a business report. It should be concise, spell-checked for obvious errors, professional and be clearly expressed. The assignment should include the following sections:
Executive Summary, Introduction (brief), body (where you will answer parts to the assignment), conclusion (brief), References, Appendices (optional)
5. The assignment should be a total of 2500 words, excluding the executive summary, references and appendices.
6. You must do this assignment in a pair (groups of 3 will not be permitted under ANY circumstance).
7. E-mailed assignments will not be accepted, the assignment must be submitted via turnitin.
8. Make sure that you allow yourself adequate time to complete this report because these guidelines will be strictly enforced and without exception.
9. Conduct research as widely as possible (up to 8 -12 sources). You MUST use sources that are considered academically reputable.
10. If you have any issues with your assignment partner please inform your tutor 3 weeks before the assignment is due.
Plagiarism – Please read the notes on plagiarism in the Unit Outline
FIN30014 Financial Risk Management Sem 2, 2017
5
FIN30014 Marking Rubric: Assignment (Pairs)
Group Members: 1. 2.
CRITERIA
Unacceptable
Acceptable
Exemplary
Mark
1. Introduce the topic and provide background. 2 marks
Introduction unclear and little background information.
0
Sound introduction and key background details provided.
1
Coherent introduction and thorough background information.
2
2. Relevant issues are identified, analysed and supported with consistent arguments and data/evidence.
12 marks
Key issues not identified or identified inappropriately. Arguments are poorly organised / difficult to follow. No or incorrect supporting evidence.
0-5
Appropriately identifies and discusses key issues. Arguments are consistent, well organised and supported with data/evidence. Generally logical flow and easy to follow.
6-9
Extensively identifies and discusses all relevant issues. Arguments are presented in a superior manner, well integrated and thoroughly supported with up-to-date evidence.
10-12
3. Structure and presentation consistent through whole report.
2 marks
Poorly organised. Few headings. No table of contents or executive summary. Weak flow. Little attention to grammar, spelling and expression.
0
Appropriate structure and well organised analysis. Table of contents and executive summary provided Appropriate use of expression and minimal spelling errors. Good editing. 1
Professional structure, logical analysis. Executive summary accurate and concise. Superior presentation of table of contents, tables, figures, and appendices. Professionally edited. 2
4. Evaluate alternatives, draw conclusions/ make recommendations.
2 marks
Weak/inconsistent connections between analysis and conclusions. Introduces new arguments inappropriately.
0
Logical/consistent connections between analysis and conclusions.
1
Superior conclusions drawn using all relevant analysis. Conclusions are consistent, realistic and professional.
2
5. Effective literature search and referencing.
2 marks
Weak literature research. Few articles cited. Sources lack authority or are not current. Inconsistent or incorrect use of Harvard referencing.
0
Evidence of depth and breadth of relevant, authoritative and current research (at least 8 sources, at least 2 types of literature). Consistent use of Harvard referencing.
1
Extensive use of academically sound research sources (at least 12 sources, at least 3 types of literature) that is current and reliable. Correct Harvard referencing for all in text citations and reference list. 2
Marking: 0 – 9: Unacceptable; Does not meet expectation
10 – 15: Acceptable; Meets expectation
16– 20: Exemplary; Exceeds expectations TOTAL MARK: __________/20______

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You are CEO of Acme, Inc. located in the United States. You use the discounted payback period method and accept all projects that payback in three years. You are considering a project that will cost $5,500,000 and will produce one cash flow that occurs in three years. However, the cash flow is in pesos since the project is an overseas project. The current indirect exchange rate is 13.5 pesos per dollar. The cash inflow in pesos is 100,000,000 in three years, and the discount rate is 11.5%. During this time, the anticipated annual inflation rate is 5% in the United States and 4% in Mexico. Should you accept this project, using the discounted payback period method? Is this a good decision? Provide the six (6) steps you would utilize to determine whether or not this is a good decision.

You are CEO of Acme, Inc. located in the United States. You use the discounted payback period method and accept all projects that payback in three years. You are considering a project that will cost $5,500,000 and will produce one cash flow that occurs in three years. However, the cash flow is in pesos since the project is an overseas project. The current indirect exchange rate is 13.5 pesos per dollar. The cash inflow in pesos is 100,000,000 in three years, and the discount rate is 11.5%. During this time, the anticipated annual inflation rate is 5% in the United States and 4% in Mexico. Should you accept this project, using the discounted payback period method? Is this a good decision? Provide the six (6) steps you would utilize to determine whether or not this is a good decision.

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University of Phoenix FIN/444 Mergers, Acquisition and Corporate Restructuring Final Exam 1 Point Each Please Put all Answers on the Excel Answer Sheet Provided 1. The pooling of interest and the purchase method are the two methods allowed by the FASB in accounting for Mergers and Acquisitions. A. True B. False 2. FASB prefers the purchase method of accounting for business combinations because A. CEO’s of major corporations find it more beneficial B. Purchase method allows for amortization of goodwill over a maximum of 40 years C. Merger accounting and subsequent asset values should be consistent with market valuations D. Purchase method is more easily understood by accountants 3. Strategic planning is the responsibility of the CEO and executive management team? A. True B. False 4. Which of the statements below is an essential element of the strategic planning process A. Formulation of internal organizational performance measurements. B. Formulation of mid-range programs and short-run plans. C. Analysis of company, competitors, industry, domestic economy, and international economies. D. A and C only E. All of the above 5. Strategic planning processes can utilize formal procedures or develop through informal communications throughout the organization. A. True B. False 6. According to the study done by Jensen (1986) he found that A. Firms with substantially high free cash flow leads to value-reducing diversification decisions B. Mergers create cost saving synergies C. Mergers Produce economies of scale D. B and C only 7. According to studies done by Hirshleifer and Png (1989) and French and McCormick (1984) suggested that A. a seller might want to limit the competitiveness of the selling process because it can indirectly affect the aggressiveness of any one bidder and adversely affect the combined net gains from the transaction. B. A seller might want to promote the competitiveness of the selling process because it can indirectly affect the aggressiveness of any one bidder and help increase the combined net gains from the transaction C. Bidders in a takeover attempt face a potential winner’s curse D. None of the above 8. Between 1895 and 1904 what type of merger was most prevalent? A. Vertical Mergers B. Conglomerate Mergers C. Horizontal Mergers D. None of the above 9. Andrade, Mitchell, and Stafford (2001) concluded that much of the merger activity that transpired during the ‘90s was caused by A. Technological Innovations B. Availability of Junk Bonds C. Capital Markets D. Deregulation 10. Which characteristics will not make a firm vulnerable to a takeover : A. A low stock price in relation to the replacement cost of assets or their potential earning power (a low q-ratio). B. A highly liquid balance sheet with large amounts of excess cash, a valuable securities portfolio,and significant unused debt capacity. C. Good cash flow relative to current stock prices; low P/EPS ratios. D. Subsidiaries or properties that could be sold off that would significantly impair cash flow. 11. Which of the following are defenses against hostile takeover bids: A. Classified Boards B. White Knight C. Super Majority Amendments D. All of the above E. B and C only 12. The leading methods used in the valuation of a firm for merger analysis are: A. the comparable companies or comparable transactions approach B. the spreadsheet approach C. the formula approach D. all of the above E. A and B only 13. The Black-Scholes option pricing model should be used with which of the valuation techniques? A. the spreadsheet approach B. the comparable companies or comparable transactions approach C. the MBA approach D. A and B only 14. When calculating the WACC we should use which of the following? A. Book value for both debt & equity B. Market value for both debt & equity C. Book value for debt & market value for equity D. Market value for debt & book value for equity 15. Three major types of merger motivations were identified by Berkovitch and Narayanan (1993): A. synergy B. hubris C. operating innovations D. All of the above E. A & B only 16. All are reasons for given for merger activity except A. Technological change B. Economies of scale C. New industries D. Super Majority amendments E. Deregulation and regulation 17. Tender offers can be either hostile or friendly A. True B. False 18. All are types of mergers except A. Horizontal B. Vertical C. Hubris D. Conglomerate 19. Which federal securities law regulates the sale of securities A. Securities Act of 1933 (SA) B. Securities Exchange Act of 1934 (SEA) C. Public Utility Holding Company Act of 1935 (PUHCA) D. Investment Company Act of 1940 (ICA) 20. This act applies to public issues of debt securities with a value of $5 million or more. A. Securities Act of 1933 (SA) B. Securities Exchange Act of 1934 (SEA) C. The Trust Indenture Act of 1939 D. Investment Company Act of 1940 (ICA) 21. Its stated purpose was to protect target shareholders from swift and secret takeovers A. Securities Act of 1933 (SA) B. Securities Exchange Act of 1934 (SEA) C. The Trust Indenture Act of 1939 D. The Williams Act 22. A strategic alliance represents a combination of subsets of assets contributed by two (or more) business entities for a specific business purpose and a limited duration. A. True B. False 23. All of the following are rationales for joint ventures except A. Tax Aspects B. Knowledge Acquisition C. Risk Reduction D. Capital Markets 24. Strategic alliances are informal or formal decisions or agreements between two or more firms to cooperate in some form of relationship. A. True B. False 25. Defined contribution plans can be of three kinds: stock bonus plans, profit-sharing plans, and money purchase plans. A. True B. False 26. Under ERISA, ESOPs are stock bonus plans or combined stock bonus plans and money purchase plans designed to invest primarily in qualifying employer securities. A. True B. False 27. According to The U.S. General Accounting Office (GAO) (1986) all of the following are types of ESOPs except: leveraged, A. leveragable B. nonleveraged C. stock D. tax credit 28. ESOP’s can be used as an antitakeover weapons A. True B. False 29. The master limited partnership (MLP) is a type of limited partnership whose shares are publicly traded. A. True B. False 30. The most widely used method for determining the cost of equity is A. The Dividend Growth Model B. The CAPM C. The Bond Yield Plus Equity Risk model D. None of the above 31. The risk free rate used in the CAPM is: A. AAA rated corporate bond B. U.S. 3 month Treasury Bill C. U.S. 10 year Treasury Bond D. Aaa rated corporate bond 32. Which of the following is a type of share repurchase? A. Clientele effect B. Signaling effect C. Dutch auctions D. None of the above 33. Which of the following is a form of restructuring and divestitures? A. Asset Sales B. Equity carve-outs C. Spin-offs D. A and C only E. All of the above 34. A split-up is defined as the separation of a company into two or more parts. A. True B. False 35. In all of the listed research papers, corporate divestitures, on average, create wealth for parent shareholders. A. True B. False 36. In dual-class recapitalizations (DCRs), firms have created a second class of common stock that has limited voting rights and usually a preferential claim to the firm’s cash flows. A. True B. False 37. The main reason/reasons for the large levels of foreign M&A activity is: A. Europe becoming a common market place B. Globalization C. International Competition D. All of the above 38. U.S. company acquisitions of non-U.S. companies are in the range of ______% to ______% of total world M&A activity. A. 4% to 7% B. 11% to 15% C. 1% to 3% D. None of the above 39. Growth is the most important motive for international mergers. A. True B. False 40. The fraud and self-dealing revelations of new millennium resulted in investigations by congress, the SEC, and the State Attorney General in several jurisdictions, particularly New York and led to the Sarbanes-Oxley Act (SOA). A. True B. False 41. A widely held view is that about 67% of acquisitions do not earn the buyers’ cost of capital. A. True B. False 42. Mergers fail for which of the following reason/reasons? A. Pay too much B. Overoptimistic expected synergies C. Greenmail D. All of the above E. A and B only 43. The modern literature on long-range planning indicates that long-range strategic planning involves at least the following elements: A. Environmental reassessment for new technologies, new industries, and new forms of competitors. B. A consideration of capabilities, missions, and environmental interactions from the standpoint of the firm and its divisions. C. An emphasis on process rather than particular goals or objectives. D. An emphasis on iteration and on an iterative feedback process as a methodology for dealing with ill-structured problems. E. All of the above

University of Phoenix
FIN/444 Mergers, Acquisition and Corporate Restructuring
Final Exam
1 Point Each
Please Put all Answers on the Excel Answer Sheet Provided


1. The pooling of interest and the purchase method are the two methods allowed by the FASB in accounting for Mergers and Acquisitions.

A.	True
B.	False


2. FASB prefers the purchase method of accounting for business combinations because

A.	CEO’s of major corporations find it more beneficial
B.	Purchase method allows for amortization of goodwill over a maximum of 40 years
C.	Merger accounting and subsequent asset values should be consistent with market valuations
D.	Purchase method is more easily understood by accountants


3. Strategic planning is the responsibility of the CEO and executive management team?

A.	True
B.	False


4. Which of the statements below is an essential element of the strategic planning process

A.	Formulation of internal organizational performance measurements.
B.	Formulation of mid-range programs and short-run plans.
C.	Analysis of company, competitors, industry, domestic economy, and international economies.
D.	A and C only
E.	All of the above


5. Strategic planning processes can utilize formal procedures or develop through informal communications throughout the organization.

A.	True
B.	False


6. According to the study done by Jensen (1986) he found that 

A.	Firms with substantially high free cash flow leads to value-reducing diversification decisions
B.	Mergers create cost saving synergies 
C.	 Mergers Produce economies of scale
D.	B and C only


7. According to studies done by Hirshleifer and Png (1989) and French and McCormick (1984) suggested that

A.	a seller might want to limit the competitiveness of the selling process because it can indirectly affect the aggressiveness of any one bidder and adversely affect the combined net gains from the transaction.
B.	A seller might want to promote the competitiveness of the selling process because it can indirectly affect the aggressiveness of any one bidder and help increase the combined net gains from the transaction
C.	Bidders in a takeover attempt face a potential winner’s curse
D.	None of the above


8. Between 1895 and 1904 what type of merger was most prevalent?

A.	Vertical Mergers
B.	Conglomerate Mergers
C.	Horizontal Mergers
D.	None of the above


9. Andrade, Mitchell, and Stafford (2001) concluded that much of the merger activity that transpired during the ‘90s was caused by

A.	Technological Innovations
B.	Availability of Junk Bonds
C.	Capital Markets
D.	Deregulation








10. Which characteristics will not make a firm vulnerable to a takeover :

A.	A low stock price in relation to the replacement cost of assets or their potential earning power (a low q-ratio).
B. A highly liquid balance sheet with large amounts of excess cash, a valuable       securities portfolio,and significant unused debt capacity.
C.	Good cash flow relative to current stock prices; low P/EPS ratios.
D.	Subsidiaries or properties that could be sold off that would significantly impair cash flow.


11. Which of the following are defenses against hostile takeover bids:

A.	Classified Boards
B.	White Knight
C.	Super Majority Amendments
D.	All of the above
E.	B and C only


12. The leading methods used in the valuation of a firm for merger analysis are:

A.	the comparable companies or comparable transactions approach
B.	the spreadsheet approach
C.	the formula approach
D.	all of the above
E.	A and B only


13. The Black-Scholes option pricing model should be used with which of the valuation techniques?

A.	the spreadsheet approach
B.	the comparable companies or comparable transactions approach
C.	the MBA approach
D.	A and B only


14. When calculating the WACC we should use which of the following?

A.	Book value for both debt & equity
B.	Market value for both debt & equity
C.	Book value for debt & market value for equity
D.	Market value for debt & book value for equity


15. Three major types of merger motivations were identified by Berkovitch and Narayanan (1993):

A.	synergy
B.	hubris
C.	operating innovations
D.	All of the above
E.	A & B only


16. All are reasons for given for merger activity except

A.	Technological change
B.	Economies of scale
C.	New industries
D.	Super Majority amendments
E.	Deregulation and regulation


17. Tender offers can be either hostile or friendly
A.	True
B.	False


18. All are types of mergers except
A.	Horizontal
B.	Vertical
C.	Hubris
D.	Conglomerate


19. Which federal securities law regulates the sale of securities
A.	Securities Act of 1933 (SA)
B.	Securities Exchange Act of 1934 (SEA)
C.	Public Utility Holding Company Act of 1935 (PUHCA)
D.	Investment Company Act of 1940 (ICA)



20. This act applies to public issues of debt securities with a value of $5 million or more.

A.	Securities Act of 1933 (SA)
B.	Securities Exchange Act of 1934 (SEA)
C.	The Trust Indenture Act of 1939
D.	Investment Company Act of 1940 (ICA)


21. Its stated purpose was to protect target shareholders from swift and secret takeovers

A.	Securities Act of 1933 (SA)
B.	Securities Exchange Act of 1934 (SEA)
C.	The Trust Indenture Act of 1939
D.	The Williams Act


22. A strategic alliance represents a combination of subsets of assets contributed by two (or more) business entities for a specific business purpose and a limited duration.

A.	True
B.	False


23. All of the following are rationales for joint ventures except

A.	Tax Aspects
B.	Knowledge Acquisition
C.	Risk Reduction
D.	Capital Markets


24. Strategic alliances are informal or formal decisions or agreements between two or more firms to cooperate in some form of relationship.

A.	True
B.	False


25. Defined contribution plans can be of three kinds: stock bonus plans, profit-sharing plans, and money purchase plans. 

A.	True
B.	False


26. Under ERISA, ESOPs are stock bonus plans or combined stock bonus plans and money purchase plans designed to invest primarily in qualifying employer securities.

A.	True
B.	False



27. According to The U.S. General Accounting Office (GAO) (1986) all of the following are types of  ESOPs except: leveraged,

A.	leveragable
B.	nonleveraged
C.	stock
D.	tax credit


28. ESOP’s can be used as an antitakeover weapons
A.	True
B.	False


29. The master limited partnership (MLP) is a type of limited partnership whose shares are publicly traded.

A.	True
B.	False


30. The most widely used method for determining the cost of equity is 

A.	The Dividend Growth Model
B.	The CAPM
C.	The Bond Yield Plus Equity Risk model
D.	None of the above


31. The risk free rate used in the CAPM is:

A.	AAA rated corporate bond
B.	U.S. 3 month Treasury Bill
C.	U.S. 10 year Treasury Bond
D.	Aaa rated corporate bond


32. Which of the following is a type of share repurchase?

A.	Clientele effect
B.	Signaling effect
C.	Dutch auctions
D.	None of the above



33. Which of the following is a form of restructuring and divestitures?

A.	Asset Sales
B.	Equity carve-outs
C.	Spin-offs
D.	A and C only
E.	All of the above


34. A split-up is defined as the separation of a company into two or more parts.

A.	True
B.	False


35. In all of the listed research papers, corporate divestitures, on average, create wealth for parent shareholders.

A.	True
B.	False


36. In dual-class recapitalizations (DCRs), firms have created a second class of common stock that has limited voting rights and usually a preferential claim to the firm’s cash flows.

A.	True
B.	False


37. The main reason/reasons for the large levels of foreign M&A activity is:

A.	Europe becoming a common market place
B.	Globalization
C.	International Competition
D.	All of the above


38. U.S. company acquisitions of non-U.S. companies are in the range of ______% to ______% of total world M&A activity.

A.	4% to 7%
B.	11% to 15%
C.	1% to 3%
D.	None of the above

39. Growth is the most important motive for international mergers.

A.	True
B.	False


40. The fraud and self-dealing revelations of new millennium resulted in investigations by congress, the SEC, and the State Attorney General in several jurisdictions, particularly New York and led to the Sarbanes-Oxley Act (SOA).

A.	True
B.	False


41. A widely held view is that about 67% of acquisitions do not earn the buyers’ cost of capital.

A.	True
B.	False


42. Mergers fail for which of the following reason/reasons?

A.	Pay too much
B.	Overoptimistic expected synergies
C.	Greenmail
D.	All of the above
E.	A and B only


43. The modern literature on long-range planning indicates that long-range strategic planning involves at least the following elements:

A.  Environmental reassessment for new technologies, new industries, and new forms of competitors.
B.  A consideration of capabilities, missions, and environmental interactions from the   standpoint of the firm and its divisions.
C.  An emphasis on process rather than particular goals or objectives.
D.  An emphasis on iteration and on an iterative feedback process as a methodology for dealing with ill-structured problems.
E.  All of the above

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In this Case Study, you will research an airline company and determine its business strategy. Be sure to include research on their business strategy. Write a one-page (250-word) paper to include the following: ? A brief explanation of Porter’s generic strategies ? Identification of the strategy US Airways uses ? Examples and justification to support the strategy chosen CSU requires that students use the APA style for papers and projects. Therefore, the APA rules for formatting, quoting, paraphrasing, citing, and listing of sources are to be followed.

 In this Case Study, you will research an airline company and determine its business strategy. Be sure to include research
on their business strategy.
Write a one-page (250-word) paper to include the following:
? A brief explanation of Porter's generic strategies
? Identification of the strategy US Airways uses
? Examples and justification to support the strategy chosen
CSU requires that students use the APA style for papers and projects. Therefore, the APA rules for formatting, quoting,
paraphrasing, citing, and listing of sources are to be followed.

Read More